Massmutual Trust Co. FSB ADV Has $437,000 Holdings in Packaging Co. of America (NYSE:PKG)

Massmutual Trust Co. FSB ADV lessened its holdings in Packaging Co. of America (NYSE:PKGGet Rating) by 18.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,179 shares of the industrial products company’s stock after selling 702 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Packaging Co. of America were worth $437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH grew its position in Packaging Co. of America by 241.7% in the 4th quarter. Allianz Asset Management GmbH now owns 10,713 shares of the industrial products company’s stock worth $1,458,000 after purchasing an additional 7,578 shares in the last quarter. Ensign Peak Advisors Inc grew its position in Packaging Co. of America by 103.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 19,311 shares of the industrial products company’s stock worth $2,629,000 after purchasing an additional 9,806 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Packaging Co. of America by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 700,980 shares of the industrial products company’s stock worth $95,439,000 after purchasing an additional 22,361 shares in the last quarter. Renaissance Technologies LLC grew its position in Packaging Co. of America by 82.5% in the 4th quarter. Renaissance Technologies LLC now owns 143,800 shares of the industrial products company’s stock worth $19,578,000 after purchasing an additional 65,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Packaging Co. of America by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,806,289 shares of the industrial products company’s stock worth $245,285,000 after purchasing an additional 31,772 shares in the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded shares of Packaging Co. of America from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $130.00 to $112.00 in a research report on Friday. Truist Financial reduced their price objective on shares of Packaging Co. of America to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Packaging Co. of America from $158.00 to $144.00 in a research report on Tuesday, July 19th. Citigroup increased their target price on shares of Packaging Co. of America from $144.00 to $147.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, Wells Fargo & Company reduced their target price on shares of Packaging Co. of America from $162.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Hold” and an average price target of $151.71.

Packaging Co. of America Stock Down 11.0 %

PKG opened at $118.07 on Monday. The company has a 50 day moving average of $138.78 and a 200 day moving average of $148.04. The company has a market cap of $11.07 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.77. Packaging Co. of America has a 12 month low of $116.60 and a 12 month high of $168.50. The company has a current ratio of 3.07, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63.

Packaging Co. of America (NYSE:PKGGet Rating) last released its quarterly earnings data on Monday, July 25th. The industrial products company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.85 by $0.38. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.14 billion. Packaging Co. of America had a net margin of 12.13% and a return on equity of 28.76%. Packaging Co. of America’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the firm earned $2.17 EPS. On average, sell-side analysts expect that Packaging Co. of America will post 11.48 EPS for the current year.

Packaging Co. of America Company Profile

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Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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